bd40bc7c7a A Treatise on Political Economy; or the Production, Distribution, and Consumption of Wealth, trans. References[edit]. 27, p. "Retrospectives: On the Definition of Economics," Journal of Economic Perspectives, 23(1), p. "Economics and Contiguous Disciplines," Journal of Legal Studies, 7(2), pp.

John Neville Keynes regarded the discussion leading up to the definition of economics more important than the definition itself.[18] It would be a way to reveal the scope, direction and troubles the science faces. "Retrospectives: A Dismal Romantic," Journal of Economic Perspectives, 4(4), pp. Carl Menger's definition reflects the focus on the economizing man:. Say (1803), distinguishing the subject from its public-policy uses, defines it as the science of production, distribution, and consumption of wealth.[5] On the satirical side, Thomas Carlyle (1849) coined 'the dismal science' as an epithet for classical economics, in this context, commonly linked to the pessimistic analysis of Malthus (1798).[6] John Stuart Mill (1844) defines the subject in a social context as:. [pp. 1-2 [8th ed.]. 201-211. Description and review.